MONTRÉAL, May 25, 2026 /CNW/ - Geekco Technologies Corporation (the "Corporation" or "Geekco") (TSXV: GKO) is pleased to announce the closing as of today of the settlement into 16,247,733 Common Shares at a price of $0.12 each of the outstanding principal amounts of its convertible debentures for $1,720,000 held by eleven creditors and their respective accrued and unpaid interests until May 6, 2026 (the "Meeting Date") which amounted to $229,728.77, for an aggregate amount of $1,949,728.77 (the "SFD"). Each issued Common Share is subject to a four-month and one-day resale restriction period from the closing of the SFD. The SFD, previously announced on April 7 and May 6, 2026, is subject to the final approval of the TSX Venture Exchange (the "TSXV") and any other applicable regulatory approvals.
The principal amounts and accrued and unpaid interests as of the Meeting Date on the debentures directly or indirectly held by Henri Harland and Xavier Harland, each being owner of more than 10% of the Corporation's securities on a diluted or undiluted basis, as the case may be, amounted to $588,561.64 and $27,952.05 respectively and were settled into 4,904,680 Common Shares and 232,933 Common Shares respectively. Following the closing of the SFD, (i) the direct or indirect shareholding of Henri Harland increased by approximately 1.4% to reach approximately 19.9% on an undiluted basis (and decreased by approximately 0.9% to reach approximately 21.2% on a partly diluted basis); and (i) the direct or indirect shareholding of Xavier Harland decreased by approximately 0.5% to reach approximately 5.5% on an undiluted basis (and decreased by approximately 1.1% to reach approximately 8.9% on a partly diluted basis). SFD with Henri Harland and Xavier Harland are "related party transactions" as defined under Multilateral Instrument ("MI 61-101") and are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Corporation's securities are listed on the TSXV and the fair market value of any security issued to, or the consideration paid, as it involves interested parties, does not exceed 25% of the Corporation's market capitalization. The Corporation did not file a material change report pertaining to the insider's interest more than 21 days before the closing of the SFD, as the details of this insider's participation had not been confirmed at that time. The board members of the Corporation unanimously reviewed the state of the financial market and determined that the terms and conditions of the SFD, including the subscription of the related party, were fair and equitable and represented the best strategic financing option available. In addition, neither the Corporation nor the said related party has knowledge of any material information concerning the Corporation or its securities that have not been generally disclosed.
ABOUT GEEKCO
Geekco is at the forefront of innovative technology solutions that are reshaping modern marketing while driving economic activity across cities and neighborhoods by connecting consumers and businesses like never before. Its TellMe application allows users to discover nearby businesses in real time through an interactive map, access promotions and exclusive offers, and explore employment opportunities. For businesses, it provides a powerful platform to boost visibility, drive foot traffic, gather actionable data and measurable insights, and recruit future employees--all within a single, integrated application.
The TSX Venture Exchange and its regulation services provider (as defined in the policies of the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of this release.
Website: www.geekcotechnologies.com
SOURCE Geekco Technologies inc
For more information, please contact: Geekco Technologies Corporation, Mario Beaulieu, Chief Executive Officer, Phone: (514) 402-6334, Email: [email protected]
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